SC H4602

Special purpose districts that consolidate or remove services must reduce their millage rate for property taxes by the following fiscal year to reflect the reduced service responsibilities

The South Carolina Revenue and Fiscal Affairs Office, working with the appropriate county, will calculate the adjusted millage rate based on historical service expenditures, current service responsibilities, and revenue needs for continued fire and police protection

Districts must submit the adjusted millage rate to the county auditor by June 1st for implementation in the upcoming property tax cycle

The State Auditor will conduct annual reviews for three years of any district that reduces its millage rate under this law

Districts that fail to reduce their millage as required will have 10% of their state-distributed revenue withheld by the State Treasurer until compliance is verified

The law takes effect upon the Governor's approval and first applies to tax years after 2025